View more on these topics

EIS fails to get green light for Red Light

The team behind heist movie Red Light Runners has been forced to ditch the enterprise investment scheme financing the project after raising barely half its £8m budget.

Investors in the scheme had their cheques returned last week after the film&#39s producers decided not to extend the period in which to raise the full budget and instead signed a financing agreement with European firm Fierce Entertainment.

Producer Clark Westerman says he is disappointed by the failure of the EIS but felt compelled to sign the new deal – which secures around 70 per cent of the film&#39s financing – as just £4m had been raised by the scheme&#39s August closing date.

The film will star Minnie Driver, Michael Madsen, Vinnie Jones and, subject to negotiations, Harvey Keitel and Mickey Rourke. Production starts in November and the film will be distributed in the US and Europe.

Westerman says: “We are disappointed that we did not do this through an EIS. It would have been good for investors, good for us and good for EIS projects in general. But the main objective is to make the film in the UK and that is going to happen.”


Skipton Building Society – 2 Year Fixed Rate Bond

Tuesday, 27 August 2002 Type: High interest account Minimum-maximum investment: £1,000-£10,000 Interest rate: 4.5% gross a year Term: Two years Offer period: Until further notice Withdrawal penalties: No withdrawals permitted during term Tel: 0800 446776

Credit Suisse bond gets S&P rating

Credit Suisse&#39s corporate bond monthly income fund has been awarded an &#39A&#39 rating by research agency Standard & Poor&#39s.The fund, which is managed by Kevin Adams, has ranked 11th out of 72 funds since August 2001 and 13th out of 74 since the start of the year.Adams says: “The fund focuses on quality investment grade […]

Big rise in single people buying homes

A dramatic increase in the number of single people buying houses is leading to a fundamental shift in UK housing demand, according to res-earch from Halifax. The UK&#39s biggest lender says in 2001, single buyers accounted for more than four in 10 buyers compared with only a quarter in 1983. In the medium to short […]

Commission is the only way forward

Lorna Bourke&#39s article about an IHT loophole (Money Marketing, August 15) made a point which was somewhat hidden. Apparently, only the rich can afford to pay for complex legal advice that would save a fortune in IHT for the vast majority of the homeowning populace. This is rather strange because the complex legal work is […]

Graphic Content – August

Given the release of employment data from the US on 5 August, we wanted to focus on employment data in this month’s Graphic Content. The Graphic Content below shows us that young and middle-aged workers were hit the hardest by the Great Recession and have never caught up. Since the job market started to recover […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm